Mawson Building High-Grade Core at the Raja Prospect, Finland

Drills 19.7 metres @ 8.9 g/t Gold Equivalent

VANCOUVER, May 28, 2019 /CNW/ - Mawson Resources Limited ("Mawson") or (the "Company") (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces gold-cobalt results from 5 drill holes at the Raja prospect from the Company's 100% owned Rajapalot Project in northern Finland. Sixteen holes with full assays remain to be reported from the 44 hole winter drill program.

Figure 1: Plan of Raja prospect area indicating drill results, the outline of 43-101 resource, modelled ground TEM plates over a Lidar background. Note also the trend of the high-grade Au-Co trend of 339 degrees. For more detailed location information, refer to press release of April 23, 2019. (http://mawsonresources.com/news/news-releases/2019/mawson-drills-313-metres-at-60-gt-aueq-at-raja-gold-cobalt-prospect-finland) (CNW Group/Mawson Resources Ltd.)

Figure 2: Longitudinal section at Raja prospect indicating the new and existing high-grade Au-Co results within the 339 linear trend. The view is towards 069 degrees. The blocks from within existing resources are shown along with the modelled TEM plate. See Figure 1 for location of section in plan view. (CNW Group/Mawson Resources Ltd.)

Figure 3: Cross section at Raja prospect indicating the projection of the high-grade trend with PAL0190 and PAL0118 AuEq results. See Figure 1 for section location in plan view. (CNW Group/Mawson Resources Ltd.)

The best result is PAL0190 which intersected 19.7 metres @ 8.9 g/t gold equivalent ("AuEq"), 7.4 g/t gold ("Au") and 908 ppm cobalt ("Co") from 371.0 metres, confirming a 250 metre-long high-grade Au-Co core that remains open down plunge. PAL0190 was drilled to target this high-grade trend, providing encouragement on the continuity of the high-grade core and the ability to target high grade mineralization.

This high-grade core, which occurs within a broader mineralized envelope, has now been intersected multiple times including 85 metres up-plunge from PAL0190 in drill hole PAL0188 (31.3 metres @ 6.0 g/t AuEq, 4.3 g/t Au and 1,030 ppm Co from 298.6 metres) and PAL0093 located 140 metres up plunge (33.6 metres @ 9.7 g/t AuEq, 8.0  g/t Au, 823 ppm Co from 243.0 metres). Additionally, on section 30 metres east of PAL0190, PAL0118 intersected 20.7 metres @ 5.6 g/t AuEq, 3.6 g/t Au, 956 ppm Co from 365.2 metres. PAL0191 drilled 80 metres down plunge in the trend contains visible gold associated with pyrrhotite (assay results remain to be reported).

"The winter drilling has delivered further strong results from Raja with 19.7 metres @ 8.9 g/t gold equivalent intersected by PAL0190 within a high core" said Mr. Michael Hudson, Chairman and CEO of Mawson. "Most significant is the predictability and continuity of the cigar-shaped high-grade core that is now 30-50 metres wide and 20-30 metres thick that has now been traced over 250 metres down plunge and remains open at depth. This a significant advancement in understanding of the mineralized system by our geological team, which will deliver benefits in future targeting during on-going exploration programs."

Mawson completed 44 holes (PAL0159–PAL0201D1) for 15,059 metres (two short holes abandoned, one wedged hole) during the 2019 winter drill season. Results from 5 holes from the Raja prospect are provided here (PAL0167, 175, 187, 189 & 190; Tables 1-3). Sixteen holes with full assays remain to be reported that were predominantly drilled down plunge from resource areas including PAL0191 (Raja), PAL0194 (Palokas) and PAL0198 (South Palokas), where sulphidic (pyrrhotite-rich) intersections with visible gold provide encouragement.

Drill hole PAL0190 is the deepest high-grade drill hole reported from Raja to date, at greater than 300 metres vertically from surface. The predictable sub-vertical and linear nature of the high-grade Au-Co structural control within certain stratabound units provides encouragement for the continuity of mineralized bodies. The trend of this high-grade Au-Co core shown in Figure 1 is 339 degrees (true). Longitudinal section (Figure 2) and cross sectional (Figure 3) views show the location of this high-grade core with respect to other drill holes.

Other holes reported in this release include PAL0189, previously reported for gold-only, which was drilled 230 metres up-plunge from PAL0190 and intersected 5.0 metres @ 3.7 g/t AuEq, 2.7 g/t Au and 581 ppm Co from 200.0 metres; and 4.3 metres @ 3.8 g/t AuEq, 2.3 g/t Au and 931 ppm Co from 210.0 metres representing 35% and 67% increases respectively on earlier results (reported April 23, 2019). Drill hole PAL0187 was drilled 50 metres down plunge from PAL0190 and 45 metres west of the inferred high-grade core and intersected 1.4 metres @ 2.3 g/t AuEq, 0.1 g/t Au, 1,345 ppm Co from 400.4 metres.

Mawson will continue to release results on a prospect-by-prospect basis as assay data become available.

Technical and Environmental Background
The gold equivalent ("AuEq") value used in the resource and this press release was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/608) with assumed prices of Co $30/lb; and Au $1,250/oz. AuEq varies with gold and cobalt prices. A long-term price point has been chosen for both commodities to maintain consistency of reporting individual drill holes against the resource dated December 2018.  Approximate spot prices for gold and cobalt are currently $1280/oz and $16/lb respectively.

Assuming a predominant stratabound control, the true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Quality control duplicates for all holes show good repeatability of gold assays. Intersections are reported with a lower-cut of 0.5g/t gold or 304ppm Co over 2 metre lower cut, except where indicated. No upper cut-off was applied.

Four diamond drill rigs (K3 & K8) from the Arctic Drilling Company OY ("ADC"), Kati OY ("Kati") and MK Core Drilling OY ("MK"), all with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.7 mm). Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging in Mawson's Rovaniemi facilities, core intervals averaging 1 metre for mineralized samples and 2 metres for barren samples were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples were transported by Mawson personnel or commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. Multi-element assays, including cobalt are determined using the ICP-MS method (IMS-230) of MS Analytical shipped directly from the CRS Minlab Oy facility. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS and MS Analytical insert blanks and standards into the analytical process.

The qualified person for Mawson's Finnish projects, Dr. Nick Cook, President for Mawson and a Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.

NI 43-101 Technical Report
On December 19, 2018, Mawson filed an independent National Instrument 43-101 Technical Report (the "NI 43-101 Technical Report") on the Mineral Resource Estimate for the Raja and Palokas Prospects, at the 100% owned Rajapalot Project in Finland, (the "NI 43-101 Technical Report"), in support of the Company's news release dated December 17, 2018. The NI 43-101 Technical Report was authorized by Mr. Rod Webster of AMC Consultants Pty Ltd ("AMC") of Melbourne, Australia, and Dr. Kurt Simon Forrester of Arn Perspective of Surrey, England. Each of Mr. Webster and Dr. Forrester are independent "qualified persons" as defined by National Instrument 43-101. The NI 43-101 Technical Report may be found on the Company's website at www.mawsonresources.com or under the Company's profile on SEDAR at www.sedar.com.

About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)

Mawson Resources Limited is a sustainable and ethical exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland, a significant and strategic gold-cobalt resource for Finland with the maiden resource positioned as one of Finland's current top three gold resources by grade and contained ounces and one of a small group of cobalt resources prepared in accordance with NI 43-101 policy within Europe.

On behalf of the Board,

"Michael Hudson"                  
Michael Hudson, Chairman & CEO

Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Table 1: Collar Information from 2019 Winter drilling at the Rajapalot Project (Finnish Grid, Projection KKJ3)

HoleID	East	North	Azimuth	Dip	RL	Depth	Prospect	Comment
PAL0159	3408545.8	7372603.5	56	-71	179.162	473.8	Raja	Au results Mar 04 2019 Co results Apr 23 2019
PAL0160	3408485.8	7372581.1	67	-79	177.865	447	Raja	Au and Co results Apr 23 2019
PAL0161	3408696.1	7372556.6	57	-75	179.24	405.8	Raja	Au results Mar 04 2019 Co results Apr 23 2019
PAL0162	3408446.4	7372648.4	46	-84.5	180.158	482.9	Raja	Au results Mar 04 2019 Co results Apr 23 2019
PAL0163	3408487.0	7372587.9	65	-73.5	178.218	470.05	Raja	Au results Mar 04 2019 Co results Apr 23 2019
PAL0164	3408545.4	7372603.2	61.1	-75.6	178.586	441.7	Raja	Au and Co results Apr 23 2019
PAL0165	3408612.7	7372312.2	60	-79	176.25	167.9	Raja	Au results Mar 04 2019 Co results Apr 23 2019
PAL0166	3408897.7	7372385.3	240	-83	170.452	238.6	Raja	Au and Co results Apr 23 2019
PAL0167	3408486.0	7372587.0	96	-85	178	398.6	Raja	Au results Mar 04 2019 Co results here
PAL0168	3408554.5	7372806.4	233	-83	173.987	45.6	Raja	Abandoned hole
PAL0169	3408553.5	7372806.4	233	-83	173.987	545.8	Raja	Au and Co results Apr 23 2019
PAL0170	3408713.0	7372255.4	60	-79	172.803	200.2	Raja	Results Awaited
PAL0171	3408603.8	7372636.0	58	-73	179.753	497.6	Raja	Au and Co results Apr 23 2019
PAL0172	3408447.4	7372648.4	47	-79.5	180.158	491.9	Raja	Au and Co results Apr 23 2019
PAL0173	3408255.8	7373707.9	116	-56	173.48	427.9	South Palokas	Au results Mar 04 2019 Co results awaited VG
PAL0174	3408255.8	7373707.9	116	-69.5	173.48	8.3	South Palokas	Abandoned hole
PAL0175	3408830.5	7372237.5	60	-74	172.071	120.1	Raja	Results here
PAL0176	3408937.3	7372300.3	240	-79.5	173.012	140.0	Raja	Au and Co results Apr 23 2019
PAL0177	3408434.0	7372388.0	240	-60	176.1	250.5	Rumajärvi	Au and Co results May 13 2019
PAL0178	3408225.9	7372340.1	60	-75	177.064	237.2	Rumajärvi	Results awaited
PAL0179	3408105.5	7372350.5	60	-80	180.572	209.0	Rumajärvi	Au and Co results May 13 2019
PAL0180	3408128.3	7372706.1	41	-61	173.634	778.65	Terry's Hammer	Results Awaited
PAL0181	3407954.6	7372245.0	150	-60	177.834	161.7	Rumajärvi	Au and Co results May 13 2019
PAL0182	3407944.8	7372476.5	60	-70	176.8	439.65	Rumajärvi	Au and Co results May 13 2019
PAL0183	3408094.0	7372422.1	160	-70	178.624	170.0	Rumajärvi	Au and Co results May 13 2019
PAL0184	3407754.4	7372867.6	120	-50	173.07	211.8	Rumajärvi	Au and Co results May 13 2019
PAL0185	3407900.4	7372519.6	60	-68	173.064	381.1	Rumajärvi	Results Awaited
PAL0186	3407905.2	7372446.2	55	-75	174.386	341.85	Rumajärvi	Results Awaited
PAL0187	3408547.0	7372492.4	47	-63.5	176.807	474	Raja	Results here
PAL0188	3408630.2	7372440.6	53	-63.5	176.974	379.4	Raja	Au and Co results Apr 23 2019
PAL0189	3408768.8	7372378.8	48	-77	173.301	245.5	Raja	Au results Apr 23 2019, Cobalt here VG
PAL0190	3408576.2	7372512.8	63	-65	177.732	427.9	Raja	Results here
PAL0191	3408547.0	7372492.4	44	-58.5	176.807	492.1	Raja	Results Awaited VG
PAL0192	3408221.8	7373180.6	130	-60	171.892	203.2	Hut	Results Awaited
PAL0193	3408255.3	7373706.4	104	-53	173.478	427.15	South Palokas	Results Awaited
PAL0194	3408312.2	7373980.0	74	-57	173.8	497.8	Palokas	Results Awaited VG
PAL0195	3408353.9	7373580.2	65	-77	174.918	245.6	South Palokas	Results Awaited
PAL0196	3408089.1	7373031.9	90.5	-60	172.308	317.4	Hut	Results Awaited
PAL0197	3408271.4	7373630.1	63	-66.5	173.603	466.8	South Palokas	Results Awaited
PAL0198	3408414.1	7373660.3	117	-70	174.417	296.2	South Palokas	Results Awaited VG
PAL0199	3408126.6	7373140.2	215	-80	173.042	386.7	Hut	Results Awaited
PAL0200	3408312.2	7373979.0	62	-61.8	173.8	536.8	Palokas	Results Awaited
PAL0201	3408545.8	7372603.5	57	-67.25	179.162	281.0	Raja	Results Awaited
PAL0201D1	3408545.8	7372603.5	57	-67.25	179.162	195.0-392.2	Raja	Results Awaited

Table 2: Better intersections report from the 2019 Winter Drill Program.

Intersections are reported with a lower cut of 0.5g/t gold over 2 metre lower cut except where highlighted with **. No upper cut-off was applied.

Prospect	Hole_id	from	to	width	AuEq	Au	Co
Raja	PAL0159	419.0	437.0	18.0	1.4	0.5	547
	including	419.0	420.2	1.2	0.8	0.2	378
	including	422.0	426.0	4.0	2.5	0.3	1377
Raja	PAL0159	434.0	437.0	3.0	3.4	2.3	672
Raja	including	429.0	432.0	3.0	0.9	0.1	488
Raja	PAL0159	451.0	455.5	4.5	3.2	1.9	754
Raja	PAL0161	305.5	313.0	7.5	1.1	0.0	636
Raja	PAL0161	336.0	338.0	2.0	2.7	2.1	362
Raja	PAL0161	344.0	349.0	5.0	3.3	2.3	600
Raja	PAL0162	323.0	324.0	1.0	1.2	0.0	701
Raja	PAL0162	452.0	453.0	1.0	0.9	0.0	562
Raja	PAL0163	416.6	419.4	2.8	10.9	0.0	6604
Raja	PAL0164	406.0	414.3	8.3	1.3	0.4	519
Raja	PAL0164	418.4	419.7	1.3	0.9	0.0	546
Raja	PAL0166	55.3	56.3	1.0	0.6	0.1	355
Raja	PAL0166	67.8	68.8	1.0	1.0	0.0	568
Raja	PAL0166	76.6	77.6	1.0	1.1	0.1	596
Raja	PAL0166	79.3	80.3	1.0	1.6	0.0	958
Raja	PAL0169	522.3	524.4	2.1	0.7	0.1	368
Raja	PAL0171	299.0	300.1	1.1	0.9	0.0	528
Raja	PAL0172	120.0	122.0	2.0	0.9	0.0	541
Raja	PAL0172	329.0	332.0	3.0	1.0	0.0	573
South Palokas	PAL0173	232.8	233.7	0.8		0.5
South Palokas	PAL0173	264.0	281.0	17.0		3.4
	including	264.0	269.0	5.0		4.9
	including	276.1	281.0	4.9		4.6
South Palokas	PAL0173	380.0	381.1	1.1		0.8
South Palokas	PAL0173	384.8	385.8	1.0		2.0
Raja	PAL0176	14.0	15.6	1.6	2.5	2.4	58
Raja	PAL0176	20.5	31.9	11.4	1.4	0.8	382
Raja	PAL0176	33.8	35.7	1.9	1.2	1.0	105
Raja	PAL0176	49.0	52.0	3.0	4.0	3.8	86
Rumajärvi	PAL0179	6.0	10.7	4.7	1.9	1.0	578
Rumajärvi	PAL0179	37.0	38.0	1.0	0.6	0.1	311
Rumajärvi	PAL0179	39.0	40.0	1.0	1.0	0.0	592
Rumajärvi	PAL0179	48.0	51.0	3.0	0.6	0.0	344
Rumajärvi	PAL0179	73.8	76.3	2.5	0.6	0.1	342
Rumajärvi	PAL0182	86.3	93.7	7.4	4.4	3.4	597
Rumajärvi	PAL0183	54.3	55.1	0.8	1.6	0.4	728
Rumajärvi	PAL0183	112.3	114.2	1.9	0.7	0.1	364
Rumajärvi	PAL0183	142.5	143.1	0.6	2.8	2.2	340
Rumajärvi	PAL0184	117.6	118.6	1.0	1.7	1.3	206
Raja	PAL0187	400.4	401.8	1.4	2.3	0.1	1345
Raja	PAL0187	416.0	417.0	1.0	1.1	0.0	684
Raja	PAL0188	298.3	329.6	31.3	6.0	4.3	1030
Raja	PAL0188	298.3	315.6	17.4	4.8	2.9	1113
Raja	PAL0188	320.6	329.6	9.0	11.7	9.4	1412
Raja	PAL0188	337.9	338.9	1.0	3.1	3.1	35
Raja	PAL0189	157.0	162.0	5.0	0.7	0.1	344
Raja	PAL0189	165.0	165.8	0.8	1.3	1.1	143
Raja	PAL0189	182.9	186.0	3.2	4.6	4.5	11
Raja	PAL0189	194.0	195.0	1.0	1.2	1.1	90
Raja	PAL0189	200.0	205.0	5.0	3.7	2.7	581
Raja	PAL0189	210.0	214.3	4.3	3.8	2.3	931
Raja	PAL0189	228.6	222.6	4.0	1.1	0.3	506
Raja	PAL0190**	359.2	390.7	31.5	5.9	4.8	724
	including	359.2	368.0	8.8	1.4	0.5	521
	Including	371.0	390.7	19.7	8.9	7.4	908

Table 3: Individual assay data from key drill holes reported in this release.

hole_id	Prospect	from (m)	to (m)	width (m)	Au g/t	Co ppm	AUEQ g/t
PAL0187	Raja	400.4	401.1	0.7	0.1	1271	2.2
PAL0187	Raja	401.1	401.8	0.8	0.1	1408	2.4
PAL0187	Raja	416	417	1	0	684	1.1
PAL0189	Raja	157	158	1	0.3	330	0.8
PAL0189	Raja	158	159	1	0.1	374	0.7
PAL0189	Raja	159	160	1	<0.05	184	0.3
PAL0189	Raja	160	161	1	0.2	524	1.1
PAL0189	Raja	161	162	1	0.1	306	0.6
PAL0189	Raja	165	165.8	0.8	1.1	143	1.3
PAL0189	Raja	182.9	184	1.2	8.8	12	8.8
PAL0189	Raja	184	185	1	3.5	11	3.5
PAL0189	Raja	185	186	1	0.8	10	0.8
PAL0189	Raja	194	195	1	1.1	90	1.2
PAL0189	Raja	200	201	1	0.1	545	1.0
PAL0189	Raja	201	202	1	0.2	672	1.3
PAL0189	Raja	202	203	1	0.6	588	1.6
PAL0189	Raja	203	204	1	6	897	7.5
PAL0189	Raja	204	205	1	6.8	201	7.1
PAL0189	Raja	210	211	1	1.6	1043	3.3
PAL0189	Raja	211	212	1	0.1	1007	1.8
PAL0189	Raja	212	213.2	1.2	0.2	710	1.4
PAL0189	Raja	213.2	214.3	1.1	7.3	1003	8.9
PAL0189	Raja	218.6	219.6	1	0.1	421	0.8
PAL0189	Raja	219.6	220.6	1	0.2	1252	2.3
PAL0189	Raja	220.6	221.6	1	0.5	85	0.6
PAL0189	Raja	221.6	222.6	1	0.2	265	0.6
PAL0190	Raja	359.2	360.2	1	<0.05	328	0.5
PAL0190	Raja	360.2	361.2	1	0.06	1157	2.0
PAL0190	Raja	361.2	362.2	1	<0.05	168	0.3
PAL0190	Raja	362.2	363.2	1	<0.05	180	0.3
PAL0190	Raja	363.2	363.8	0.6	0.06	489	0.9
PAL0190	Raja	363.8	364.6	0.9	<0.05	176	0.3
PAL0190	Raja	364.6	365.2	0.6	<0.05	424	0.7
PAL0190	Raja	365.2	366.2	1	0.08	474	0.9
PAL0190	Raja	366.2	367	0.9	2.3	616	3.3
PAL0190	Raja	367	368	1	2.57	1110	4.4
PAL0190	Raja	371	372	1	1.33	755	2.6
PAL0190	Raja	372	373	1	0.12	30	0.2
PAL0190	Raja	373	374	1	0.95	227	1.3
PAL0190	Raja	374	375	1	3.97	1075	5.7
PAL0190	Raja	375	376	1	1.24	975	2.8
PAL0190	Raja	376	377	1	19.4	3434	25.0
PAL0190	Raja	377	378	1	20.3	1547	22.8
PAL0190	Raja	378	379	1	0.2	434	0.9
PAL0190	Raja	379	379.8	0.8	0.34	488	1.1
PAL0190	Raja	379.8	380.8	1	1.17	746	2.4
PAL0190	Raja	380.8	381.2	0.4	0.22	1575	2.8
PAL0190	Raja	381.2	382.8	1.6	2.58	1133	4.4
PAL0190	Raja	382.8	383.8	1	2.06	371	2.7
PAL0190	Raja	383.8	384.8	1	78.8	1195	80.8
PAL0190	Raja	384.8	385.8	1	8.52	1142	10.4
PAL0190	Raja	385.8	386.8	1	<0.05	93	0.2
PAL0190	Raja	386.8	387.8	1	2.06	1720	4.9
PAL0190	Raja	387.8	388.8	1	0.11	547	1.0
PAL0190	Raja	388.8	389.8	1	0.07	446	0.8
PAL0190	Raja	389.8	390.7	0.9	0.24	326	0.8

SOURCE Mawson Resources Ltd.

www.mawsonresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Mariana Bermudez (Canada), Corporate Secretary, [phone], [email protected]

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